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If you had a healthy chunk of money 10 years ago, not massive, say you managed to save one million, and you invested it well but nothing spectacular
You’d be able to afford $100k adm all day long even after a hypothetical 30% correction next year. You still have nearly 5x the amount you did in 2011. Most people really don’t understand what compound interest does over time. The economy for the top few percent has been fantastic since 2008.
Porsche is not making 7x the cars they did in 2012. They’re making about the same. They have not raised prices 7x. Demand is way way up but supply is unchanged.
Housing is in bad shape, and the layoffs are starting. But the Fed is already talking about dialing back its war on inflation. There’s further the $8T increase in money supply from 2020 interventions most folks never talk about. Everybody gets hung up on interest rates, but that’s not the only thing running around driving up prices / down real dollar value. Energy costs are way up. International situation is ****ed. Food costs are way up and other central banks are lagging the Fed. Dollar is a lot stronger. For as challenged as the U.S. economy is, where else are people going to invest ? UK ? Lololol. China ? Russia ? Lololololol. The money is still flowing here because where else would it go ?
If you think you know what’s going to happen next year, you’re delusional
If you had a healthy chunk of money 10 years ago, not massive, say you managed to save one million, and you invested it well but nothing spectacular
You’d be able to afford $100k adm all day long even after a hypothetical 30% correction next year. You still have nearly 5x the amount you did in 2011. Most people really don’t understand what compound interest does over time. The economy for the top few percent has been fantastic since 2008.
Porsche is not making 7x the cars they did in 2012. They’re making about the same. They have not raised prices 7x. Demand is way way up but supply is unchanged.
Housing is in bad shape, and the layoffs are starting. But the Fed is already talking about dialing back its war on inflation. There’s further the $8T increase in money supply from 2020 interventions most folks never talk about. Everybody gets hung up on interest rates, but that’s not the only thing running around driving up prices / down real dollar value. Energy costs are way up. International situation is ****ed. Food costs are way up and other central banks are lagging the Fed. Dollar is a lot stronger. For as challenged as the U.S. economy is, where else are people going to invest ? UK ? Lololol. China ? Russia ? Lololololol. The money is still flowing here because where else would it go ?
If you think you know what’s going to happen next year, you’re delusional
Bingo!
Even with all of the negative factors that you have cited, investors have poured more than $86 BILLION into U.S. stocks this year.
That is on track to mark the second to highest sum since 2013, following last year's inflows of $156 BILLION.
This is even with a yield curve that is the most inverted since Feb. 1982.
The fact that ADM's are still so resilient for the 992.1 GT3 even with all of the negatives that you've cited above is quite telling regarding the supply/demand situation of these cars.
There are people that have money. And Porsche only made about 2,900 992 GT3's. It's classic SUPPLY/DEMAND.
The fact that I cant get an appointment at my local PPF shop until 4 months out, is equally telling.
Apparently, the naysayers here who spend their time posting 70X a month on why ADM's will be collapsing back to MSRP never got around to taking a basic Econ. 1 course in college.
I can also tell that they know absolutely nothing about the financial markets and dont have any "skin" in that marketplace either.
Their "value" comments here are terribly unsophisticated, emotional, and dont come from reality.
I call it the "broken clock" syndrome.
And since ADM's still havent "collapsed" even though the poster child for this narrative has been wrong for 5 months straight, it's hard not to notice that others in his camp have now changed
the narrative to how used 992 prices will be collapsing. I guess this is what happens when 2023 allocations have essentially dried-up and they still cant acceot the fact that they've been WRONG.
My GT3 Touring went "On Vessel" in Emden yesterday on the Glovis Clipper.
I cant wait to get my hands on this car and experience some of the same comments made by Jbravo, Chris C., and others here.
As a fellow motorsports enthusiast once told me whose stable includes a bevy of supercars, "This is a total goldilocks car, incrementally but significantly better than the 991, and there's no other car close to its price range for the performance it commands."
I am most thankful for having an opportunity to own just such a sportscar.
Thank You Porsche.
Happy Thanksgiving!
Last edited by Diablo Dude; 11-24-2022 at 05:22 PM.
Reason: u
From: Mid-Atlantic (on land, not in the middle of the ocean)
Those of you contemplating paying a big premium for a 992 GT3 may want to consider a 992 GTS also. With his comments about the 992 GT3 having a harsh ride, I can imagine a GT3RS being unlivable on bad roads.
i bought my 991.2 touring under MSRP in march 2020. S&P was around 2600. under msrp didnt last long though, as the market improved.
i see 3600 being hit in 2023, but I don't see GT3 prices correlative to 3600 S&P as much as gt3 supply is correlative. I will say it differently. Every month from now (starting Dec 2022) will illustrate a new ceiling in gt3 prices. Why would anyone think they are going up or staying flat?
i bought my 991.2 touring under MSRP in march 2020. S&P was around 2600. under msrp didnt last long though, as the market improved.
i see 3600 being hit in 2023, but I don't see GT3 prices correlative to 3600 S&P as much as gt3 supply is correlative. I will say it differently. Every month from now (starting Dec 2022) will illustrate a new ceiling in gt3 prices. Why would anyone think they are going up or staying flat?
What do you mean by new ceiling? As in going down?
What do you mean by new ceiling? As in going down?
new lower ceiling. correct. What else could occur??? these are production cars. I fully expect that every production car I own - including my 992 gt3 touring -- will go down as more are produced. is anyone denying that future state?
I have known Samuel for a while, he is actually a very nice and straight forward guy. Even among brokers that know him that have mentioned his cars to me, they all have nothing but good things to say about him. However, as of late, he has been pricing his cars above market. He actually use to offer very competitive prices on GT3s when the 992 first came out ($30K ADM for new customers in March 2021). A lot of their cars are actually sold much below asking, they had a Guards Red 992 GT3 this summer they sold for ~$40K ADM, which for the summer that was one of the lowest priced cars, it never was listed below $100K ADM to public. They currently have had a low optioned touring for sale since August that they initially were asking $153K over on, still asking $130K over on it. I think they over paid for some cars so are stuck with them, and trying to make it up in other ways. There are a few people that go ahead and pay the crazy asking prices from them though, so it is worth it for them to at least try. A couple of these that were sold for full ask by BH, they were kids who got into NFTs, so i think those type of customers may be gone. He has always told me that he thinks prices will come down, he was actually surprised to see prices increased from +$30K to $100K. I think the dealers do not want to advertise selling a car for a lower ADM, otherwise the game ends sooner than theyd like. He has been doing this long enough to know that this will not last, that is what has been communicated to me. He actually is one of the few sales people who says prices may come down or prices will come down, depending on when you ask him. Other dealers will say prices will stay where they are, or they are not sure.
new lower ceiling. correct. What else could occur??? these are production cars. I fully expect that every production car I own - including my 992 gt3 touring -- will go down as more are produced. is anyone denying that future state?
I fully agree. Whats your sentiment towards long discontinued cars like CGT or RS 4.0 aka porsche blue chips?
I fully agree. Whats your sentiment towards long discontinued cars like CGT or RS 4.0 aka porsche blue chips?
Here's a sad story for you....I sold my 5K mile CGT in 2013 for $330K.....thought I did well in selling above my original purchase price and just didnt appreciate the car versus other options at that time. Anyhow, the run up on the CGT seems a little overdone but I still don't see well maintained ones losing more than 10-15% in the coming down cycle. Now, some of the other early model GTs that have run up to well above $500K seem far-fetched. What are your thoughts?
11-24-2022 | 01:41 PM
